Labour force in 2006

In economics the people in the labor force are the suppliers of labor. Economics is the social science that studies the production distribution, and consumption of goods and services. In 2005, the worldwide labor force was over 3 billion people. ^[1]

Normally, the labor force of a country (or other geographic entity) consists of everyone of working age (typically above a certain age (around 14 to 16) and below retirement age who are participating workers, that is people actively employed or looking for work. Child labor laws in the United States forbid employing people under 18 in hazardous jobs. The Child labor laws in the United States include numerous statutes and rules regulating the employment of minors.

The fraction of the labor force that is seeking work but cannot find it determines the unemployment rate. Unemployment occurs when a person is available to work and currently seeking work but the person is without work.